Robeco, The Investments Engineers
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サステナビリティ投資

座礁資産

企業のバランスシート上で、強制償却により急速に価値が棄損している資産。

現状では、伝統的なエネルギー（化石燃料）の発掘や生産事業が気候保護規制の制約を受けている、公益企業や探鉱企業の持つ資産を指す場合が多く見られます。

2015 年1 月に雑誌「ネイチャー」に発表された研究は、埋蔵量のうち、石油は1/3、天然ガスは50%、石炭は80% が2050 年まで利用されない可能性を示唆しています。またその研究は、そのリスクが最も高い地域として、石炭については中国、インド、旧ソ連、石油・天然ガスについては中東を挙げています。

世界にプラスの効果をもたらしながらリターンを創出

サステナブル投資

As the climate change agenda becomes more important, investors have been pressuring oil and gas companies to move their business models more towards renewable energy. Here, engagement is seen as being key. In 2018, Robeco led a landmark engagement with Royal Dutch Shell that persuaded the oil giant – which faces significant levels of stranded oil and gas assets in future decades – to commit to short-term as well as long-term carbon reduction strategies, and link both to executive remuneration. Robeco also now excludes any oil company engaged in Arctic drilling.

Stranded assets can apply to any product that has become redundant for whatever reason. Many Boeing 747 ‘jumbo jets’ have become stranded assets for many airlines as the industry has switched to more fuel-efficient twin-engines airliners as replacements for the four-engine jumbos. The unwanted 747s cannot be sold and are often simply written off.

Digitalization is also rendering many valuable assets redundant, including ironically the makers of money itself: the coronavirus crisis has structurally lowered the demand for banknotes as more contactless transactions were made, leading to currency printing presses standing idle.